Safe Harbor Statement
2
Statements contained in this presentation that are not based on historical facts are “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking
terminology such as “should,” “could,” “may,” “will,” “expect,” “believe,” “estimate,” “anticipate,” “intends,” “continue,” or similar terms or
variations of those terms or the negative of those terms. There are many factors that affect the Company’s business and the results of
its operations and that may cause the actual results of operations in future periods to differ materially from those currently expected or
anticipated. These factors include, but are not limited to: the impact of pandemics such as the current coronavirus on employees, our
supply chain, and the demand for our products and services around the world; materially adverse or unanticipated legal judgments,
fines, penalties or settlements; conditions in the financial and banking markets, including fluctuations in exchange rates and the
inability to repatriate foreign cash; domestic and international economic conditions, including the impact, length and degree of
economic downturns on the customers and markets we serve and more specifically conditions in the automotive, construction,
aerospace, transportation, food service equipment, consumer appliance, energy, oil and gas and general industrial markets; lower-
cost competition; the relative mix of products which impact margins and operating efficiencies in certain of our businesses; the impact
of higher raw material and component costs, particularly steel, certain materials used in electronics parts, petroleum based products,
and refrigeration components; an inability to realize the expected cost savings from restructuring activities including effective
completion of plant consolidations, cost reduction efforts including procurement savings and productivity enhancements, capital
management improvements, strategic capital expenditures, and the implementation of lean enterprise manufacturing techniques; the
potential for losses associated with the exit from or divestiture of businesses that are no longer strategic or no longer meet our growth
and return expectations; the inability to achieve the savings expected from global sourcing of raw materials and diversification efforts
in emerging markets; the impact on cost structure and on economic conditions as a result of actual and threatened increases in trade
tariffs; the inability to attain expected benefits from acquisitions and the inability to effectively consummate and integrate such
acquisitions and achieve synergies envisioned by the Company; market acceptance of our products; our ability to design, introduce
and sell new products and related product components; the ability to redesign certain of our products to continue meeting evolving
regulatory requirements; the impact of delays initiated by our customers; and our ability to increase manufacturing production to meet
demand; and potential changes to future pension funding requirements. In addition, any forward-looking statements represent
management's estimates only as of the day made and should not be relied upon as representing management's estimates as of any
subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company and
management specifically disclaim any obligation to do so, even if management's estimates change.
Key Messages
1 Leading global industrial manufacturer in high value markets; partnering with customers to
solve application needs with customized, differentiated solutions
2Proactively managing our platform toward higher margin, growth businesses; recent
Refrigerated SolutionsGroup divestiture improved margin profile > 200 bps
3Leveraging Standex Value Creation System and deep technical and applications expertise
for competitive advantage; significant runwayof opportunity
4 Substantial financial flexibility supported by strong balance sheet, significant liquidity
and consistent free cash flow generation
Disciplined and balanced capital allocation with healthy pipeline of organic and
inorganic growth opportunities; >50 consecutive years of dividend payments5
3
68%
14%
18%
Standex – at a glance
FY 19 Revenue Profile1
7%
19%
24%
38%
End Markets
26
%
Segment
General
Industry &
Consumer
2019 ADJ.
EBITDA1
$114M
4
2019 ADJ.
EBITDA MARGIN1
17.9%
MARKET CAP2
$686MDIVIDEND YIELD2
1.6%
NET DEBT
TO ADJ. EBITDA
0.9x
GLOBAL LEADERSHIP
POSITIONS
• REED SWITCH
PRODUCTION
• SURFACE
TEXTURING
SOLUTIONS
• CNC SPIN
FORMING
HISTORY Founded 1955; IPO in 1964
HEADQUARTERS Salem,NH
EMPLOYEES ~3,900
LOCATIONS Locations in 28 Countries
1Pro forma for RSG divestiture. 2Based upon price on 6/15/20 and 12.4 million shares outstanding.
8%
17%
23%
32%
20%Hydraulics
EngineeringTechnologies
Electronics
Engraving
Food Service
60%
23%
17%
North America
Asia Pacific
EMEA
40%
24%
11%
10%8%
7%
Automotive
Life Sciences
Food ServiceCommercial Aviation
Space & Defense
2019 REVENUE1
$640M
Geography
5
• Deemed an essential business in most plants and have had limited facility shutdowns
• Focus on safety and health of employees, customers and suppliers
• China plants closed for a portion of 3Q20 and now fully operational; provided actionable playbook
• Actions include working remotely, changing work space configurations and revising shift schedules when appropriate
5
RESPONSE TO COVID-19
• ~ $220M of available liquidity; 0.95x TTM net debt to adjusted EBITDA
• Generated $7.3M FCF in 3Q20; 0.1x year-over-year increase in WC turns
• Swapped variable to fixed rate debt, ~$1M annual interest savings; ~10x interest coverage ratio
• Decreased CAPEX to $19M-$21M in FY20; focus on maintenance, safety and high priority growth initiatives
• Repatriated ~$20M from foreign subsidiaries YTD; expect to repatriate ~$35M in FY20
STRENGTHENING FINANCIAL
FLEXIBILITY
• Initiated additional cost reduction efforts; ~$4M expense savings in 4Q20
• Announced closing of a Procon plant in Ireland in 3Q20; ~$1M annualized savings
• Addressing Electronics materials inflation; changes in reed switch production and material substitution
• Hired VP of Ops in February; early innings to further improve processes and productivity
IMPLEMENTING ADDITIONAL
EFFICIENCY INITIATIVES
• Divested Refrigerated Solutions Group; ~200 basis point pro forma increase in adj. operating margin on a YTD basis
• Healthy funnel of new product organic growth opportunities including adjacent end markets and new technologies
• Active acquisition pipeline with disciplined capital allocation
POSITIONING FOR HIGHER
GROWTH & MARGIN
• Sequential decline in revenue with continued COVID-19 economic impact, moderate decrease in operating margin
• Building higher growth and margin businesses into more significant platforms
• Competing on customer intimacy and leveraging competitive advantages including deep technical/application expertise
• Financial flexibility to opportunistically pursue internal projects and inorganic growth opportunities with attractive returns
OUTLOOK
3Q20 Highlights
David Dunbar CEO, President and Chairmanof theBoard
◼ Joined Company in2014;over 30 years experience in the industrial sector◼ Previous roles include President of Pentair Valves & Controls and Emerson Process Management Europe◼ Prior to Emerson Electric, served in numerous industrial automation and control business roles at Honeywell International◼ BS and Masters in Electrical Engineering from StanfordUniversity
Ademir Sarcevic
VP, CFO andTreasurer
◼ Joined as CFO in2019◼ Over 20 years senior financial experience in the industrial sector◼ Previously Chief Accounting Officer at Pentair plc and CFO at Pentair Valves and Controls segment◼ BS from Bridgeport University and MBA from Thunderbird School at Arizona State
Paul Burns
VP, Strategy and BusinessDevelopment
◼ Joined Company in 2015; 20 years experience in strategic growth management
◼ Prior roles include Director, Corporate Development at General Motors and Tyco Flow Control; Senior Manager -McKinsey and Company
◼ BBA/BA Finance and History at The Universityof Texas at Austin and MBA fromThe Universityof Edinburgh
Jim Hooven VP,Operations
andSupply Chain
◼ Joined Company in 2020; over 20 years operational and management experience in the industrial sector◼ Prior experience includes Danaher, Hillenbrand and Trane; Certified Six SigmaBlackbelt◼ B.S. Johnson & Whales University and MBA from RiderUniversity
Alan Glass
VP, Chief Legal Officer
and Secretary
◼ Joined Company in 2016; +20 years in publicly-tradedglobal industrial manufacturing companies◼ Previously led legal, complianceand risk management functions at CIRCOR International◼ BA Cornell Universityand JD degree from Boston University
Annemarie Bell
VP, HumanResources
◼ Joined Standex in 2015;over 30 years experience in human resources leadershipand talent management◼ Prior roles at Perkin Elmerand Parlex◼ BA Merrimack College
6
Senior Management Team
Segment OverviewP
RO
DU
CT
S
•Laser engraving
•Chemical engraving
•Architexture design studio
•Tool enhancement
•Tool finishing
•Nickel shellmolds
•Reed switches
•Reed relays
•Reed sensors
•Fluid level sensors
•Magnetics
•Planar transformersand
inductors
•Fuel tanks, tank domes,
combustion liners,
nozzles, and crew vehicle
structures
•Seals, heat shields,and
combustor element
aerostructures
•MRI scannervessel
ends, shields, and
centrifuge bowls
•Single acting telescopics
•Double acting telescopic
•Wet line kitsand pumps
•Custom singlepiston
rods
•Cold storage equipment
for use in the lifesciences
•Merchandise displays
•Pumpsystems
EN
DM
AR
KE
TS
•Transportation
•Consumer
• Industrial
• Industrial
•Transportation
•Appliances
•Distribution
• Instrumentation &Meters
•Utility & Smart Grid
•Aviation
•Space
•Defense
•Medical
•Energy/Oil & Gas
•Construction
•RefuseTrucks
•Oil/Gas
•Dump Trucks
•Airline Service
•Clinical/ Reference
labs, physicians’
offices
•Convenience stores and
supermarkets
•Carbonation/beverage
systems
•Drug stores
•Hotels
ENGINEERING
TECHNOLOGIESENGRAVING ELECTRONICS HYDRAULICS
FOODSERVICE
EQUIPMENT2
2019 REVENUE $204M 2019 REVENUE $105M 2019 REVENUE $54M 2019 REVENUE $126M
2019 ADJ. OPERATING
MARGIN120.4% 2019 OPERATING
MARGIN10.6% 2019 OPERATING
MARGIN16.5% 2019 OPERATING
MARGIN18.8%
7
2019 REVENUE $150M
16.3%2019ADJ. OPERATING
MARGIN1
1Adjusted operating margin excludes impact of purchase accounting expenses of $0.4M in Engraving and $0.3M in Electronics.2IPro forma for Refrigerated SolutionsGroup divestiture.
Customers by Segment
Food ServiceEngineering
Technologies
Electronics
Hydraulics
Engraving
8
Transforming Our Portfolio
Scaling Higher Growth & Margin Businesses
• Growth laneways, 61% YOY increase in FY19
• New Business Opportunity Funnel, 51% YOY
increase in FY19 Electronics
• Acquired GS Engineering, Agile and Tenibac
• Divested Cooking and Refrigerated Solutions
Significant Financial Flexibility
• Net debt to Adj. EBITDA of 0.9x; ~ $220M of liquidity
• Increased FCF conversion YOY in FY19
• Expect to repatriate ~$86M FY19-FY20
• ~10x interest coverage ratio
Executing on Productivity Initiatives• Cost restructuring; $7M in annual savings in FY21
• Additional opportunities including set up time
reduction in ETG to expand capacity and
leveraging global SAP in Engraving
• Addressing Electronics materials inflation;
changes in reed switch production and material
substitution
• Transform portfolio and
extend competitive
advantages to accelerate
profitable growth
• Drive growth laneways
and NBO funnel
• Leverage Standex Value
Creation System
• Maintain disciplined and
balanced capital allocation
approach
Laying the Foundation Executing on Strategic Priorities FY20 and Beyond
• More focused industrial
company with significant
runway for higher
growth and profitability
9
• Strengthened customer
value proposition
supported by growth
laneways and
acquisitions
• Financial flexibility for
attractive return internal
projects and inorganic
growth opportunities
Strengths & Competitive Advantages
Market LeadershipWith Recognized Brands
Deep Technical and
Applications Expertise
Engineer to Engineersales process focused on knowledgeand performance◼ Electronics - design expertise for mission critical applications high reliability magneticsand magnetic sensing◼ Engraving - design capabilities; mastered processes and technologies◼ Scientific - deep knowledge of life science refrigeration regulatory compliance
Strong Customer Value
Proposition
◼ ARCHITEXTURE In-housedesign consultancy◼ Customer intimacy approach:Partner-Solve-Deliver◼ Global Electronics and Engraving presence
Standex Value Creation
System
Comprehensivesystem to improve the predictabilityand consistency of performance◼ BPP Management Process◼ GrowthDisciplines◼ OperationalExcellence◼ TalentManagement
Manufacturing Know-How
◼ High-precisionnickel shellmolds for advanced texturizedskin production needs◼ Highly engineered custom hydraulic cylinders to fit a varietyofapplications◼ Spin forming single piece domesand lipskins forspaceandaviationapplications
10
Embedded With Our Customers
Engineering
Technologies
• Intensely collaborative co-development projects to support new platforms
• Standex proprietary spin forming process reduces material inputs and machining processes for fuel tank domes and nose cones
Electronics
• Traditional reed switch technology could not solve a level measurement application
• Collaborated with customer to develop a new capacitive level sensor, applying technology from high-performance race cars
• Successful development led to other new applications opportunities with the same customer
Engraving
• Unique global
presence/supply
chain
• Architexture design
studio developed
new textures
• Nickel shell soft trim tool
• Laser engraving and traditional etching
• Project managed execution in UK, Portugal, China, France, Germany, Bohemia and Italy
Hydraulics
• Addressing
underserved
aftermarket
• Reallocating capacity
and building high-
runner Kanban to
serve quick lead time
aftermarket orders
Food Service
Equipment
• Only freezer in its class
with controlled auto
defrost
• Patent pending
innovation from Standex
Scientific; product of our
Growth Discipline
Processes
• Ideal for storage of
frozen vaccines
11
Customer Led Innovation New Land Rover Defender
Next Gen Space Vehicles/Missiles
Aftermarket Service Initiative
GDP+ Growth Process
Standex Value Creation SystemOur approach to building a high performance industrial company
BPP Management
Process
Growth
Disciplines
• Cost
effectively
pursue
growth oppt’s
• Market maps
• Market tests
• Laneways
• Acquisition
targets
Operational
Excellence
• Standard work
• Value
stream
mapping
• Kaizen events
• Safety
• Productivity
improvements
• Costreductions
• Restructuring
Talent
Management
• Succession
planning
• 360Reviews
• Performance
monitoring
and review
• Compensation
plans
• Leadership
training
Strategy: Build Strategic Platforms
Values: Integrity Innovation Accountability Teamwork
Customer
StandexFY20
Value
Creation
System
Business
Strategy
Culture
Vision
• Target
setting
• Goal
alignment
• Regular
management
review
cadence
12
• Established goal to increase
rate of internal placements for
key roles• Adopted formal goal setting,
development and succession
planning in FY15
• Internal placement of key
positions increased from36%
in FY15 to 60% inFY19
• Strengthened internal career
development and culture
• Identified opportunity to improve
cash flows
• Implemented consistent
processes tomanage
collections• Improved net workingcapital
turns from 5.6x to 5.8x in FY19
• Increased FCF conversion by
570 bps year-over-year in FY19
• Began market test in welding
and polishing in 2016 in
France, Portugal and Germany• Acquired Piazza Rosa inJuly
2017
• Broadened definition to tool
finishing
• Leveraged standard work,
technology and training center
in Romania to support global
rollout
• Grew to $22.5M in revenue in
FY19
Our Value Creation System is Delivering
SHAREHOLDER VALUE ACROSS THE PLATFORM
13
Growth Discipline Process:
Tool FinishingBPP Process:
Cash ManagementTalent :
Internal TalentDevelopment
3Q20 Capitalization
14
• Net debt to capital at 17.9% vs prior quarter of 15.1%
• Repatriated $8.4M in 3Q20 and $20.3M FY20 YTD; expect to repatriate $35M in FY20
• Capital spending focus on safety, maintenance, & highest priority growth activities
Favorable Liquidity Profile
• Net debt to adj. EBITDA of 0.95x
• Net debt to total capital of 17.9%
• ~10x interest coverage ratio
• ~$220M of available liquidity
Capital Spending
• $5.5M of CAPEX in 3Q20 compared to $3.1M in 3Q19
• Reduced estimated FY20 CAPEX to $19M - $21M from
$30M - $32M
• Depreciation of $23M - $24M in FY20
• Amortization expected to be $8.5M - $9.5M
Strong Balance Sheet with Significant Liquidity
Q3 20 Q2 20
(in $M) 3/31/2020 12/31/2019
Funded Debt 212,065 186,980
Cash 109,297 98,919
Net Debt 102,768 88,061
Net Debt to Capital Ratio 17.9% 15.1%
Funded Debt to Capital 31.3% 27.6%
EBITDA to Funded Debt 1.49 x 1.22 x
(Includes Letters of Credit)
Net Debt 102,768 87,041
Adjusted EBITDA to Net Debt 0.95 x 0.80 x
Disciplined Capital Allocation Process
Standex cashprioritization
Goal: Stay investment grade
1.5x to 3.0xleverage
1: Maintenance Capital
2: Growth Capital: IRR ≥15%
3: Pay down debt if highly levered
4:Acquisitions: IRR ≥ 15%
5: Return cash to shareholders in the form of
increased dividend or share buyback
Disciplined use of Capital as
all decisions pass through a
“returns filter”
65%10%
6%
19%
Acquisitions
CapEx
Dividends
Share
Repurchase
Targeting High Return Opportunities Including Growth Laneways and Acquisitions
15
FY17 – FY19CapitalAllocation
Focused AcquisitionApproach
Complementary
products, services or
markets
Clearlydefined
synergies
Strong cultural
and strategic fit
Disciplinedvaluation
model
Internally-led process
FINANCIAL
CRITERIA
16
✓ Revenue and Cost Synergies
✓ Accretive to EPS in First FullYear
✓ Accretive to EBITDA margin
✓ IRR ≥15%
Investing in Growth
Since FY15:
• 3x Engraving deals
• 3x Electronics deals
• 1x FSEG(Scientific)
• 1X ETG (Aviation)
Expanding Strategic Platforms Through M&A
Sept 2014
Oct 2015
Oct 2016
March 2017
July 2017
August 2018
Sept 2018
April 2019
Total Cumulative Dollars
Since FY15:
• $363M paid
• Average Multiple: 7.9x
• FY19 Sales: $199M
• FY19 EBITDA: $45M
17
Key Messages
1 Leading global industrial manufacturer in high value markets; partnering with customers to
solve application needs with customized, differentiated solutions
2Proactively managing our platform toward higher margin, growth businesses; recent
Refrigerated SolutionsGroup divestiture improved margin profile >200 bps
3Leveraging Standex Value Creation System and deep technical and applications expertise
for competitive advantage; significant runwayof opportunity
4 Substantial financial flexibility supported by strong balance sheet, significant liquidity
and consistent free cash flow generation
Disciplined and balanced capital allocation with healthy pipeline of organic
and inorganic growth opportunities; >50 consecutive years of dividend
payments
5
18
APPENDIX
19
3Q20 Financial Summary
20
($ in M's) 3Q20 3Q19 YOY Comments
Revenue $155.5 $160.5 -3.1% Decrease reflects economic impact of COVID-19
Organic revenue: -3.2% YOY
Acquisition-related impact :+0.9%
F/X impact of -0.8%
Gross Margin 33.8% 34.3% -50 bps Reflects volume decline, material costs at Electronics
Adj. Operating Income $17.6 $18.2 -3.2% Impact of COVID-19 on sales offset
Margin % 11.3% 11.3% by cost containment actions
Adj. EBITDA $26.1 $25.1 4.0%
Margin % 16.8% 15.6% +120 bps
Net, Interest Expense $1.8 $3.2 -45.0% Lower borrowings and interest rate
Tax Rate % 26.1% 30.8% -470 bps
Adj. Net Income $11.9 $9.6 23.9%
Margin % 7.6% 6.0% +160 bps
Adj. EPS $0.96 $0.76 26.3%
Shares Outstanding 12.4 12.6 -1.4% 129,000 shares repurchased in 3Q20
3Q20 GAAP to Non-GAAP Bridge
21
GAAP 3rd Quarter Net Income $12.1M versus Prior Year at $8.7M
Non-GAAP Net Income $11.9M versus Prior Year at $9.6M
GAAP EPS increased 40.6%; Non-GAAP EPS up 26.3%
Pre-tax Net Pre-tax Net Pre-tax Net
Income Tax Income EPS Income Tax Income EPS Income Income EPS
Reported - GAAP 15.4$ (3.3)$ 12.1$ 0.97$ 12.9$ (4.3)$ 8.7$ 0.69$ 18.8% 39.2% 40.6%
Add:
Restructuring Charges 0.6 (0.2) 0.4 0.04 0.5 (0.2) 0.4 0.03
Acquisition-related costs 0.1 (0.0) 0.1 0.01 0.8 (0.2) 0.6 0.04
Less:
Discrete Tax Items - (0.7) (0.7) (0.06) - - - -
Adjusted 16.1$ (4.2)$ 11.9$ 0.96$ 14.3$ (4.7)$ 9.6$ 0.76$ 12.5% 23.9% 26.3%
Diluted Shares 12,397 12,574
Q3 FY20 Q3 FY19 % Change
3Q20 Free Cash Flow
Free cash flow reflects:
• Increased tax payments in 3Q20, pension contribution payments and
higher capital expenditures
• Working capital turns improved to 4.7x, which is a 0.1 improvement YOY
• Continued focus on collections and accounts payable management
Consistent Free Cash Flow Generation
22
AS REPORTED ($M)
Q3
FY 2020
Q3
FY 2019
Net cash provided by operating activities, as
reported 12.8$ 14.4$
Less: Capital Expenditures (5.5) (3.1)
Free operating cash flow 7.3$ 11.3$